Trader’s Narrative

Here’s this week’s video from Tony:

In the first part Tony provides a quick recap of the price action in the market indices last week. He uses Fib levels to show how they fell into support areas which halted their decline. Then he moves on to a specific stock: SMSI (featured in the first video). Tony explains in some detail why, after a breakout (price expansion), he waits for a pullback to support instead of just entering after a consolidation (contraction).

And finally, if you’re in the CNBC Million Dollar Portfolio Challenge, listen up! Tony will be starting a new website called Win Da Million (going live April 5th, 2007) where he will put his tips and suggestions for the CNBC contest.